Over time, if the expansion or merger is successful, that growth becomes organic growth since it's resulting from a fully integrated part of the business.
Organic growth strategies
Specific organic growth strategies depend heavily on what the business is doing and offering to the public. In general, however, you can expect organic growth to occur from changes in operations, like:
- Changing marketing or branding strategies.
- Reallocating company efforts and funds into higher-profit areas.
- Developing new products or services that meet untapped customer needs.
- Reaching customers in new places, such as online or at trade shows.
Of course, none of this is possible without tracking key metrics that can act as performance indicators and using those metrics to develop actionable steps that grow the company's business activities. The key to organic growth is generally delivering more products or services to more customers, who are so delighted that they become brand ambassadors, helping the company to grow even more.
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